Keen interest: The former Tin Kwong Road Police Married Quarters fetched $9.42 billion - far exceeding its $5.02 billion minimum guaranteed price.

Two Government lots were auctioned today for $14.12 billion - well above their combined minimum guaranteed prices of $8.02 billion.

The first of the two fetched $9.42 billion - while its minimum guaranteed price was $5.02 billion.

Kowloon Inland Lot No.11124, with an area of about 17,756 square metres, is located at Sheung Shing Street, Ho Man Tin. The site, the former Tin Kwong Road Police Married Quarters, is designated for non-industrial purposes excluding godown, hotel and petrol filling station. It was sold to Volly Best Investment.

The second site, with a minimum guaranteed price of $3 billion, fetched $4.7 billion.

New Kowloon Inland Lot No. 6308, with an area of about 12,701 square metres, is located at the junction of King Fuk Street, King Tai Street and Prince Edward Road East in San Po Kong. It is designated for non-industrial purposes excluding hotel, cinema, petrol filling station and godown. It was sold to Evermax Development.

Financial Secretary Henry Tang said the sales reflect a bullish market.

"I am pleased to see this process is working well, that there is an open and fair process so that the market can determine the best prices," he said.

When asked whether the government will reconsider putting more land on the application list, Mr Tang said there are still a few plots remaining, but he would like to see more of the taking up of the application list first.